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Corning announced a major supply agreement with AI chip king Nvidia to bring more of its glass technology inside data centers.
Corning and Nvidia signed a multiyear supply agreement expanding Corning’s U.S. optical manufacturing tenfold.
KEY POINTS
- Nvidia received warrants to purchase up to 18 million Corning shares, worth potentially $3.2 billion.
- Corning plans three new optical facilities in North Carolina and Texas, creating over 3,000 jobs.
- Corning raised its 2028 internal sales target by $6 billion, now aiming for $30 billion annualized sales.
- Corning now expects free cash flow to grow faster than capital spending due to risk-sharing supply deals.
COMPANIES
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